# OpenAIFilesConfidentialIPO

On June 8, OpenAI announced it has filed a confidential S-1 with the SEC, formally launching its IPO process. The company said it expects the news to leak, so it decided to announce it proactively. OpenAI has not set a timeline, noting that some work is easier to complete as a private company, but the filing provides flexibility to go public sooner if that proves best. CEO Sam Altman also outlined a strategic vision including "giving everyone on Earth a personal AGI." Rival Anthropic has already filed its IPO paperwork, setting the stage for two AI giants to race to the public markets.